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Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
 On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, which comes at a time that the realm faces a fall in energy revenues. Furthermore, last month the Kingdom reported the already premeditated economic reforms to decrease its reliance on oil and develop a long-term sustainable expansion, with arrangements for a monstrous $2 trillion fund to lift its worldwide investment power plan.
Particularly, the implementation of the named “Vision 2030” plan visualizes the country to operate without its major dependence on oil income by 2030. As announced, the plan encompasses the expansion of the realm’s tourism industry, developing the capacity of its military industries, reducing sponsorships to save money, generating job initiatives while restructuring its education system and establishing a Green Card-style residency system for Arabs.
Moreover, the setting up of the Public Investment fund of $2 trillion includes the $100bn that are expected to be raised from Saudi Aramco’s Initial Public Offering (the biggest IPO in history), with Prince Mohammed Bin Salman stating that the Saudi addiction to oil has disrupted the development of many sectors in previous years. As a result, the Kingdom aims to gain exposure to international markets and thus attract investments in all aspects of its economy with greater transparency.
Saudi Arabia’s new vision 2030, being ambitious and comprising of diversified policies reflects a long term initiative for economic progresses that have gained grounds from low oil prices and new-generation leadership. Gulf countries have been developing similar policies for years with Bahrain publishing its vision 2030 in 2008 and Abu Dhabi issuing one in 2009, both led by princes who wanted to associate themselves with economic transformation and collective consciousness. The April’s meeting and discussion of oil-rich countries in Doha for a production freeze in order to boost oil prices, led to no-agreement as Iran declared an increase on its output. Alongside, it was just about a year and a half ago that Ali-al-Naimi urged OPEC to maintain output, rather than reduce production and support oil prices. Effectively higher cost producers were squeezed, mainly shale oil drillers. Similarly, Saudi Arabia itself has suffered an incredible loss by foreign-exchange reserves dropping and economic growth slowing.
Inevitably, the above measures will likely lead to the most radical transformation of the kingdom since its establishment in 1932. The plan itself is the evidence of the seriousness with which the authorities are taking the effects of squeezed oil prices on the economy and consequently the socio-political impact that has shaped the state-society relations. The world’s energy map is being revamped as global growth slows down. Iran’s reintegration is shifting the regional strategic dynamics. Saudi Arabia, long familiar to being the leading player in the area, must adapt to these changes.
Consequently, the Kingdom’s strong presence in crude oil and oil product markets affects the demand for oil tankers, the world’s primary oil transportation. Therefore, “Vision 2030”, which aims at less dependence on petrodollar income and further diversified domestic and global investments, may be the result of possible pessimistic expectations about further oil-driven world growth and it could even be the signal for even lower oil prices in the future. What would be the effects on the notoriously volatile shipping industry? It remains to be seen.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 06 May 16
U.S. WEEKLY COAL PRODUCTION UP 9 PERCENT W/W; DOWN 35.3 PERCENT Y/Y - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million short to ...
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- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
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